EnergySolutions term loan B add-on to be sized at $230 million

By Sara Rosenberg

New York, Feb. 8 - EnergySolutions' proposed add-on to its existing term loan B facility for the Duratek Inc. acquisition is expected to be sized at $230 million, a market source told Prospect News on Wednesday.

As was previously reported, the company is expecting to launch the add-on towards the end of the second quarter or early in the third quarter, depending on regulatory approval.

Citigroup is the lead bank on the deal.

EnergySolutions will have to amend its existing credit facility in order to allow for the incremental term loan B debt.

Under the acquisition agreement, EnergySolutions will purchase Duratek for $22.00 per share in cash. The total transaction consideration is about $396 million, including the assumption of Duratek's outstanding debt.

EnergySolutions also plans to use cash on hand and equity to finance the transaction.

EnergySolutions is a Salt Lake City-based national energy services company. Duratek is a provider of safe, secure radioactive materials disposition and nuclear facility operations for commercial and government customers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.